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Aegon adds extra phone staff as advisers face Cofunds issues

Telephone-Phone-Business-Finance-General-700.jpgAegon has added extra telephone lines and extended its opening hours to deal with advisers enquiries after the migration of Cofunds’ advised clients to the new platform last weekend.

Aegon says 11,200 users have activated their accounts and customers are trading on the platform after it moved more than 400,000 clients to the new Aegon platform over the bank holiday weekend.

Aegon created a clone of its Aegon Retirement Choices platform to move the Cofunds clients onto and will merge the two systems later in the year.

However, advisers have reported issues with logging in to the new system and waiting a long time to speak with customer service staff.

Aegon could axe Retiready as platform placed under review

Clear IFA financial adviser Paul Davis also reported trouble with generating compliant Isa transfer quotes and transfer documents.

An Aegon spokesman said: “All our checks show that the migration and reconciliation of customer records to the Aegon platform has worked as planned.”

He adds: “We are aware that some advisers are struggling to activate their account and this is leading to high levels of demand on our contact centre as advisers call in for support. We planned for high levels of demand but are continuing to add extra telephone lines, extend opening hours and automate parts of the process to bring down waiting times.”

“We’d ask that advisers bear with us and we aim to resolve any access problems quickly.”



Aegon completes transfer of 79,000 Cofunds customers

Aegon has completed the first stage of moving Cofunds customers onto its new combined platform, transferring 79,000 investors over Christmas. Those that were moved were non-advised investor portfolio service customers, mostly from building societies. Cofunds’ advised clients are expected to move to the new platform in May. On announcing the timeframes in November, Aegon said […]


Editor’s note: Closing the Cofunds circle

When the ambitious team at Cofunds gave birth to the platform in January 2001, even they could scarcely have imagined it would reach the gargantuan size it has. At last count, the newly integrated Aegon/Cofunds platform had more than £100bn in assets under management. That’s almost £30bn more than nearest rivals Fidelity and Hargreaves Lansdown. […]


Aviva platform reports £13m loss

Aviva’s platform has reported a loss of more than £13m in 2017, according to results filed to Companies House. While the loss is an improvement from the £18.7m reported in 2016 on the back of higher revenue from increased assets under administration, the results come amid a glitch-ridden technology upgrade for the platform. Revenue in 2017 […]

The pain of replatforming: Inside Aviva’s tumultuous tech upgrade

Advisers disillusioned by ongoing issues with Aviva’s replatforming project say they are reconsidering recommending the platform to clients. Aviva moved clients to its new FNZ-backed platform in January, but the project has been beset with problems and advisers are still being frustrated by not being able to carry out key jobs for their clients. Money […]

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Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


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